Word: marzottos
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Dates: during 1960-1969
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Towering above the quaint tile roofs of Valdagno. a village in Northern Italy, are two imposing structures-a huge textile mill, now being enlarged into Europe's biggest spinning and weaving plant, and an eight-story grey marble mansion. Both belong to the Marzotto family. So do the village's hospitals, orphanages, parks, cafes, hotels, shops and just about everything else, including the railroad station and the 20-mile electric railway that links Valdagno with the outside world...
Marauding Bedbugs. Valdagno is only one part of what Italians respectfully call "Il Miracolo Marzotto." The Marzottos own textile plants in six other Italian towns, are Europe's largest producer of woolens. They own huge farms, 60 low-priced Jolly Hotels scattered throughout Sicily and Italy, and ten clothing shops that handle their Fuso d'Oro (golden spindle) readymade clothing, which they pioneered in tailor-ridden Italy. Revenues last year from the Marzotto enterprises exceeded $100 million...
Descended from a long line of weavers who set up looms in Valdagno nearly 200 years ago, the clan is headed by hardheaded, domineering Count Gaetano Marzotto, 68, who added hotels to his business after being bitten by marauding bedbugs during a stop in a hotel in Southern Italy. Made a noble in 1930 by King Victor Emmanuel chiefly for his exemplary treatment of his workers, Count Gaetano has five sons to carry on his title and the family business: Vittorio Emanuele, 40, a Liberal Deputy; Umberto, 36, who runs the farms; Paolo, 32, a sales executive with the retail...
...automated so rapidly that increased productivity has offset higher labor costs. As a result of more efficient methods, Giannino this year will eliminate 1,000 of the 8,000 jobs in the Valdagno mill. To keep from firing anyone, he will shift the displaced workers to new Marzotto plants near by, where blankets and high-fashion clothes will be turned...
...Amerikaner. Along with Marzotto, many a European firm that is still family dominated has changed its ways to get ahead. Though his uncle founded the company, Frits Philips, president of The Netherlands' giant (1961 sales: $1.4 billion) Philips Lamp, is proud that members of his family now own less than 1% of the stock. "If the stockholders decide I am doing a bad job," says Philips, "I go." And in Germany, where hired managers have traditionally been regarded with distrust, Steel Scion Alfried Krupp has given unprecedented authority to his general manager, Berthold Beitz. Among old-line Krupp executives...